Friday, July 31, 2009

Celebrate your happy events and accomplishment.

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Hard work, Doing the Right Thing, Enthusiasm and Passionate Commitment, Competence, and Creativity are critical elements of success. After we achieve success or make accomplishment, we often celebrate our accomplishment as our reward. This gives us sense of joy and satisfaction that our work finally bears fruit. There are numerous ways to celebrate our success; one of them is by arranging a party. Party celebration can occur on many different occasions and seasonal events - anniversaries and birthdays party, holiday party (Christmas, New Year, and Halloween), wedding party, luaus party, etc.

Whether you’re celebrating birthdays or baby showers, weddings or graduations, or dressing up for Halloween; Partysecret has everything you need to create the very best celebrations - from party supplies to party decorations suitable for every occasions and events. Partysecret is your trusted discount party supplier which offers the largest selection and the lowest prices of party supplies and party decorations on the internet. You can search your party decorations and ideas by theme, occasion and holiday. Their great discount party supplies make planning your joyous event or special occasion both convenient and fun. Their party stores have all your party items: Face Paints, Fancy Dress Costumes, Novelty Gifts, Party Hats, Party Invitations, Party Poppers, themed light sets, party decorating kits, paper goods, candy, toys, stand ups, piƱatas, customizable banners and balloons, and many more. Set your perfect party decoration with solid color tableware, paper and plastic plates, table covers, skirts and table rolls, flameless candles, glow products, colorful plastic party tubs, light-up drinkware, and many more. You can place your order online with their safe, secure and encrypted ordering system, or simply call them toll free at 866-372-6872. It's fast and easy. Shopping for the party will be almost as much fun as the party itself.

Celebrate your happy occasions with trusted party suppliers - Partysecret.

The above is a sponsored.

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Thursday, July 30, 2009

ABC Guidelines for Successful Recruitment. Recruitment Tips and Best Practices.

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ABC Guidelines for Successful Recruitment

Every time you have a job opening in your organization, apply as many of the twenty-six “ABC Guidelines for Successful Recruitment” as possible, regardless of the recruitment sources you use:

1. Attractive. Promote your organization as the kind of place employees will want to call their place of work. Highlight your most generous and unique benefits, have employees promote your attributes amongst friends, and publicly pat yourselves on the back for accomplishments.
2. Believable. If what you’re offering sounds too good to be true, repackage your wares. Applicants can’t be bothered tracking down prospective employers to find out if they really do offer more vacation time than any of their competitors or will top any offer received in the past two months.
3. Centered. Identify three to six critical qualities you’re seeking in your employees; clearly communicate and adhere to them in your recruitment efforts.
4. Diligent. Effective recruiting requires a steady and energetic application of effort.
5. Empathetic. Attempt to understand an applicant’s needs and interests in relation to organizational goals in order to strike a balance and find common denominators between the two.
6. Flexible. If you’ve tried one recruitment source and it’s not yielding the kind of results you need, move on to others.
7. Greedy. Tell yourself that your company is entitled to be staffed by the best possible workforce; seek out those candidates that maximally meet your needs.
8. Hip. Stay informed when it comes to the latest developments in recruitment, as well as the sources and techniques your competitors are using.
9. Informative. Anticipate what applicants will want to know about the job and your company and be prepared to tell them, either verbally, in the form of some written material, in a CD-ROM, or on-line.
10. Judicious. Exercise sound judgment when matching candidates with jobs. Avoid decisions ruled by emotion.
11. Knowledgeable. Be thoroughly familiar with the parameters of the job, how it interfaces with other positions, the department, and the company. Also, be aware of how other organizations view this job in terms of responsibility, status, and compensation.
12. Linear. Think in terms of a series of straight lines connecting the applicant, the job, and the company. This will help keep you on track and accomplish your goal of filling an opening as quickly as possible with the most suitable employee.
13. More. Review your current recruitment efforts and think of whether you could be doing more. In fact, take each of the key words in these guidelines and ask yourself if you can be more attractive, more believable, more centered, more diligent, and so on.
14. Notorious. Strive to become the organization everyone talks about. Your goal is to become the company that applicants want to work for, the one that other companies want to imitate.
15. Open-minded. Whether you’re recruiting IT specialists, engineers, or secretaries, view the job from the applicant’s perspective. Ask employees in the classifications you’re trying to fill to identify what’s important to them so you can emphasize those significant aspects to applicants.
16. Persistent. Continue exploring various recruitment sources until you find the right employee. Resist pressure to settle or compromise your standards if you don’t fill an opening right away. Rather, reexamine the sources you’ve chosen, applying the methodology described earlier.
17. Quick. The moment you discover you’re going to have an opening, act on it. Spread the word among employees, run an ad, do whatever you can to spread the word that you have a job to fill.
18. Realistic. It’s one thing to seek out the best possible candidate for a job, yet quite another to hold out for the ideal employee who may only exist on paper or in your mind.
19. Sensible. Carefully determine the best recruitment source based on a number of factors, including the nature of the job and the current job market.
20. Tireless. If you relax your recruitment efforts, chances are another organization will grab the candidate you failed to pursue.
21. Unified. Make certain everyone concerned with the recruiting effort is working toward the same goal. That is, that they are in agreement with regard to the qualities and skills being sought.
22. Vocal. Openly and clearly express the qualities and skills needed in a candidate to agencies or firms assisting your company with a job search.
23. Watchful. Look for signs confirming that the recruitment sources you’re using are producing the kinds of results wanted, and that the candidates coming forth possess needed qualities.
24. Xentigious. I made this word up (the last two syllables rhyme with litigious); it means ‘keep it legal.’
25. Youthful. In order to compete for top performers, especially the scarce but vitally important group of younger workers, be youthful in your thinking and in spirit.
26. Zealous. Applicants are more likely to be interested in becoming part of a company if the recruiters are enthusiastic and appear to genuinely enjoy working there.

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Tuesday, July 28, 2009

Greatest Show on Earth for your family entertainment.

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All parents should bring their children for circus show during their family entertainment outing, because children love the laughter, the excitement, and the amazement of the show. On circus show, human and animal performers join forces with human to bring spectacular and amazing stunts that bring laughter and excitement. Dubbed as the “Greatest Show on Earth,” the Ringling Bros and Barnum & Bailey Circus has become a must-see attraction for fans of all ages. The Ringling Brothers Circus has been around for more then 100 years and has been wowing adults and children with their death defying acts. Get entertained with the best clowns and the coolest acrobatics along with elephants, big cats and beautiful horses. Watch funny chimpanzees, flying dogs, clever Asian elephants, tame Royal Bengal and white tigers perform alongside humans that fascinate all audiences. Also, be amazed with Chinese acrobats on trapezes, motorcycles defying gravity, various performing pachyderms, high-flying aerialists, and the great Wheel of Steel. The nice thing is there is free pre-show where the audience can go learn circus tricks and meet the performers. So, come see the Ringling Bros Barnum & Baily Circus, the Great Show on Earth.

ACheapSeat.com is the online professional ticket broker that give you the hottest deals on many entertainment or sporting tickets in many USA cities, all year-round. You can find the best deal on Ringling Brothers Circus tickets. If you prefer sport events, they have discount Coors Field Tickets, Turner Field Tickets, and many more. Due to their ability to negotiate great prices on many venue tickets, you'll reap the benefit of ticket price's saving. ACheapSeat.com have large ticket inventories, even for the hard-to-get box office tickets. So you will be assured on the availability of tickets. Buying tickets is easy. You can let their friendly, professional ticket broker know about your budget, interests, and which dates you want to attend and they will help figure out which tickets will fit into your needs. This saves you lots of time. Your ticket can be purchased online or by telephone, and paid using Credit Card/Debit Card. All cards are charged only after they are able to guarantee and fill your order. Finally, Your ticket will be delivered into your home on-time via Fedex delivery, so you won't miss your show.

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Learn our Unsustainable Personal and Enterprise practices.Build Sustainable Enterprises that enhance the sustainability of the world and its ecosystem

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The vast majority of the more than 6.5 billion people living on the planet today are poor, hungry, disconnected from the rest of the world. As we continue to better understand and appreciate how we are all connected, we trust that all efforts to improve ourselves and our affiliated enterprises as we collectively journey toward sustainability will positively impact everyone.

We has only recently become aware of our unsustainable personal practices. We have struggled to resolve our own confusion and paralysis to initiate actions, but, as we began to appreciate "reality," the true condition of our world today, we knew that we must change. Here are a few of our observations that motivated us to examine our personal actions as well as the actions of our enterprises.

Current Reality

The following subsections provide several facts and observations that we offer as a way to quickly let our community of readers better appreciate our current global state of affairs. It represents real challenges to be addressed and, for our sustainable enterprises, opportunities to provide solutions.

Environmental Sustainability
 Rainforests. Between 20 and 40 years remaining at current deforestation rates
 Atlantic cod. Stocks collapsed and not recovering
 Grain. Harvest less than consumption globally for fourth year in a row
 Freshwater. Two-thirds of all people in severe shortage by 2025
 Top soil. Agricultural land area the size of China at "very high risk" of human-induced desertification
 Polar ice cap. 20% gone in the last 25 years
 Ecological footprint. A resource management tool that measures how much land and water area a human population requires to produce the resources it consumes and to absorb its wastes under prevailing technology. Today, humanity's ecological footprint is more than 23% larger than the planet's regeneration capacity. In other words, it now takes more than one year and two months for the Earth to regenerate what we use in a single year.

Economics
 Every day more than 3 billion human beings live on less than $2 (Curtis et al., 2005)
 The three richest people in the world control more wealth than 600,000,000 people in the poorest countries on Earth (Curtis et al., 2005)
 Eighty of the world's poorest countries are poorer now than they were 20 years ago (Curtis et al., 2005)
 The cost estimate of ending starvation and malnutrition everywhere is US$19 billion per year (Symes, 2006)
 Globally, US$47 billion is spent every year on ice cream (Symes, 2006)
 Globally, more than US$1 trillion each year is spent on weapons (Symes, 2006)
 The 2005 Carbon Disclosure Project survey of CEOs and the climate change and carbon management practices of their companies were endorsed by more than US$30 trillion of investment capital (Morrow, 2006)

Social Justice
 One in five of the world's children gets no schooling whatsoever (Symes, 2006)
 The United States spends more money every year on building prisons than it does on schools (Symes, 2006)
 There are currently more than 30 ongoing armed conflicts in the world and roughly one-third of the world's population is at war (Symes, 2006)
 The United Nations reported that the global population has increased by 500 million people since 1999, to more than 6.5 billion people today (United Nations Population Division, 2006)
 The United Nations estimates that by 2050 the population will grow almost 50% again to approximately 9.1 billion with almost all of these increases occurring in developing countries (United Nations Population Division, 2006)

By increasing our understanding and awareness of the above unsustainability practices, let's make our commitment to building sustainable enterprises that can contribute to enhancing the sustainability of the world and its ecosystems for generations to come.

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Saturday, July 25, 2009

Stylish and Rich Functionality Mobile Phones

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High consumer demand for stylish and rich functionality mobile phones makes mobile phone manufacturers develop newer models at faster pace. Owning the latest handphone would be satisfying experience for many people as they can be perceived as the trend setter who capitalize well on the latest technology. Popular handphone manufacturers includes Nokia, Samsung, Sony Eriksson, etc. My favourite newest handphone is Nokia N97. It is the successor of N96. It compete with HTC Touch Pro2, Sony Ericsson XPERIA X1 and Samsung B7610 OmniaPRO. This top end of Nokia Nseries family is one of the most complete smartphones powered by Symbian OS 9.4 with S60 5th edition UI. High power ARM 11 434MHz CPU and 128 MB of RAM plus 32GB onboard storage ( with additional 16GB via microSD card slot with microSDHC support) turn Nokia N97 into a portable multimedia computer with 48GB in your pocket.

Amazingly, Nokia N97 has a staggering standby time of 430 hours. This full feature handset has smart slide-n-tilt 3.5" 16M-color resistive touchscreen interface, slide-out three-row full QWERTY keyboard, higher-resolution WVGA screens, 5 megapixel autofocus camera with dual-LED flash and lens cover (VGA@30fps video recording). For full connectivity, Quad-band GSM support, GPRS, EDGE and 3G with HSDPA support, Wi-Fi with UPnP support, GPS with A-GPS, microUSB port and stereo Bluetooth v2.0 are included. There are many preinstalled applications, including Nokia Drawing, JoikuSpot Light, World Traveler, AccuWeather, Amazon application, AP Mobile, Bloomberg application, and Reuters Slideshow. The missing parts are No DivX or XviD support, No smart dialing and No office document editing. The dissapointment is the average camera quality.

To learn about latest mobile phone news, I often visited Omio. I can browse on mobile phone images; learn more on its key highlights, detailed features and full specifications, read articles, reviews and user ratings, price watch; and even buy the handset from various retailers and mobile networks. I can choose to buy from 3 offerings: Pay Monthly, Pay As You Go, or SIM Free.

So learn and buy your Nokia N97 from Omio now.


The above is a sponsored.

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Friday, July 24, 2009

Online Advertising and Marketing. Various Targeting strategies to increase sales and build brand.

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Targeting Approaches—A Unique Element In Online Advertising


 A primary benefit of online advertising is the ability to locate precise groups of consumers who are current customers or attractive prospects for your brand. Often successful targeting strategies are those that combine several classic methods of selecting a profitable audience. It might be geographic markets combined with purchase patterns for a regional retailer; or it could be a demographic segment such as male office workers and the lunchtime daypart for a fast-food chain.

 Targeting strategies must support your marketing objective. There are various targeting approaches work toward achieving branding goals, prompting direct response actions, and stimulating offline sales. These targeting approaches tied to key objectives included customer acquisition (Hollow Man), new product introduction (KFC Popcorn Chicken), increasing favorability and purchase intention (Budweiser), and customer retention (Pepperidge Farm Milano).

 Each targeting approach provides marketers with different consumer lenses. Demographic targeting defines customers in terms of personal characteristics (their age, gender, and income) and therefore is best for broad usage categories. Contextual targeting looks for shoppers with interest in a category or subject matter related to your brand. Behavioral targeting describes online usage patterns of potential buyers. Daypart targeting is life- and work-style oriented. Geographic targeting overlays customer location data onto products and services categories and is particularly valuable for local business objectives. Affinity targeting reaches people where they congregate around shared interests. And purchase-based targeting looks to predict your best prospects based on their online behaviors.

 The most popular way to target with online advertising is to select a “good fit” content site (or microsite) that matches the subject of your product or service, such as a site on fishing and your desire to sell rods and tackle, and ones with good reputations from your consumers’ perspective. This targeting strategy has demonstrated that not only does it find interested and motivated customers, but the engagement in the content of the site, or its halo effect, enhances the engagement in the specific brand advertising.

 A much newer targeting approach, unique to the internet, is based on tracking internet site behavior, via a cookie, of an attractive customer and placing your ad in a highly visited site by that customer (which may have content unrelated to the product/service category). For example, a prospective car buyer may often visit a weather site. Thus, the weather site offers an excellent targeting opportunity to reach that prospective car buyer. The engagement in the specific ad often occurs because it is the only car ad on the site and benefits from the surprise.

 Success in generating growth via targeting involves linking the targeting approach to the overall marketing goal. Simply selecting an interesting targeting approach without linking to the marketing goal will lower the chances of sales success. Daypart and behavioral targeting, for example, are good for expanding brand awareness when that is your primary marketing goal. If your goal is to generate good-quality leads for the brand, contextual and demographic or category usage profile combinations often work best. And if your goal is to remarket to customers, behavioral targeting is a good candidate. We would like to stress that these are not hard-and-fast rules, but serve as examples for matching targeting strategy to marketing objectives. Marketers should find the best fit for their brands.

The key is that the more information you have on customers or potential customers, the more innovative, cost-effective, and successful your targeting strategies can be.

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How to Build free, long term and quality targeted traffic and backlinks for your business. Increase your Page Rank and Alexa ranking.

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Many website owners use different methods of online marketing to promote their web site and online business. One of them is Article Marketing. Article marketing usually consists of writing highly informative, relevant, valuable, helpful and free content or articles about some aspect of your business for target groups and distributing them to free article directories.

Article marketing is an efficient method of creating free, long term and quality targeted traffic to your web site. You get traffic both from the article directory itself, and from the visitors to the publisher sites that reproduce your free articles. In essence, your articles will be available to other publishers to post on their sites, as long as they include your author section, which will create a link back to your site. Every time your article selected, you just gained one-way link. Popular articles can give you hundreds of backlinks from different websites. Building backlinks is an effective way to get search engines to find the your website and index it. The more articles links to you site, the higher your page rank and Alexa ranking will climb. Another benefits of writing high quality, well-written free articles is, you can establish yourself as an expert in the field, build trust, brand and credibility for your business.

Usually one article does nothing to improve your traffic or sales. You must create more articles and distribute them on various article directories. One of the prominent free article directories is Article Alley. Article Alley is a reputable and leading free article directory with PR5 and strong Alexa credential. You can benefit from their high PR and high quality traffics. You have to register with them first and and it doesn't cost you anything. There are guidelines you must adhere before you can submit an article. Your article should be original, not copied from other source and hasn't been published elsewhere. Your language should not be profane or racial oriented. For effective result, your articles should be written with catchy headline, within a range of 400 and 700 words and include your name, business name, your credentials, web site address and e-mail address in your resource box to promote yourself and build quality one way backlinks.

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Thursday, July 23, 2009

Versatile Carriers and Strollers for your baby.

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Baby is the most precious gift from our God. Remember, when you became new parents, you loved and cared your firstborn baby dearly by giving the BEST for them. Best breast feeding, best cloth diapers, best baby cots, etc. Whatever your baby and toddler needs; from baby bath, baby equipments, baby food, baby shoes, baby bedding, baby clothing; you probably had prepared them before giving birth. Preparing suitable baby products and accessories that best fit your loved one would be your important task. You would choose baby products that are safe, easy to maintain, versatile, comfortable for both baby and parents.

For transporting baby during shopping, you would prepare Baby Carriers or Baby Strollers. Choose Baby Carriers that combine great ergonomics, excellent weight distribution and stylish design, and made from top quality, removable, washable fabric and with heavy duty webbing and buckles. Please note that Infants and newborns need proper head and neck support in any carrier. When your baby hits 40 pounds, graduate to a Baby Strollers. Most parents prefer Full-Featured Strollers as they have a lot of features ( come with a canopy, rain cover, trays, and cup holders ), convenient and versatile. Typically they have more solid frames, big wheels, shock absorbers for smoother rides. Choose strollers with removable and washable seat covers, with safety features, and easily collapsible for easy storage. With multiple children, Tandem Strollers can be helpful for parent who is trying to keep both eyes on more than one child while walking.

If you like to buy baby products and accessories from the internet, you can try ShopWiki. Importantly, with ShopWiki, you can get useful Buyer's Guide and Tips that will help you make better decisions when deciding which suitable baby products for you and loved one. They offer lots of useful product comparisons and buying tips. ShopWiki is a big shopping directory of more than millions products crawled from 30000+ online stores. This means that you will find more product choices from more stores for your online shopping. You'll find all Product Features, user opinions, Top Rated Models, Product Reviews, Buying Guides, list of Approved Online Merchants/Manufacturers & their corresponding Product Price to make your shopping experience faster, easier, and more engaging. Compare and shop for the best deals and savings on the internet with Shopwiki.

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Tuesday, July 21, 2009

Five Critical Elements employees look for from their Managers. Human Resource Guide to Better Organizational Performance.

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WHAT EMPLOYEES WANT: FIVE GOOD REASONS TO ROUND

When done properly, rounding is much more than superficial “face time” or wandering around. It is meaningful. And it is the heart and soul of what we call evidence-based leadership—a term inspired by another health care concept, evidence-based medicine. The evidence, in this context, is the reams of data collected from study after study that aim to determine what people really want and need from their leaders.
There are five critical elements employees look for from their managers. Rounding helps us accomplish each and every one of them:

1. Employees want a manager who cares about and values them. The number-one reason people leave their jobs is because they feel they are not valued. What’s more, people don’t leave their team—they leave their direct supervisor. And we can’t assume our employees know that we value them. Some may, but others may not. When we round properly, we automatically build strong relationships with all of our employees. It just happens naturally.
There are moments of reality for each employee when an action by a leader will either cement his loyalty or begin his exit journey. The story of Vinnie exemplifies this truth. Vinnie worked for a small company. About a year ago, the company was purchased. In effect, he went from being a big fish in a small pond to being a medium-sized fish in a big pond.
During the transition, Vinnie did a lot of soul-searching about his new role in the company. In December, he shared with me that he was seriously thinking of looking at other options. That very week he received a handwritten letter from the president of the company. In it, the president thanked Vinnie and shared his excitement about the future. Vinnie not only stayed, he made a big commitment to the new organization and moved his family from Florida to California to be closer to company headquarters . . . and all because a leader showed that he cared.

2. Employees want systems that work and the tools and equipment to do the job. Obviously, a major part of job satisfaction centers on being able to actually do our job. From time to time, most companies experience equipment breakdowns that stymie and frustrate employees. In some cases, people have complained among themselves for years about inefficient systems and processes. (As we all know, employees are far more likely to vent to each other than to a leader who might be able to do something about the complaint.) Rounding solves these problems and gives productivity a boost.
Mike shared this story with me. As he was walking through an area of his organization, he asked some employees if they had the tools and equipment they needed to do the job that day. One lady said no. She told him they needed more of a certain type of equipment. Mike made sure they got it that day.
A few weeks later, as Mike was visiting the area again, the lady came up to him and said, “The other day was going to be my last day, but when you asked about equipment I decided to give you a chance. When you delivered on your promise I decided to stay.” Such moments of reality, however unplanned, are often make-or-break moments for us, our staffs, and our organizations.

3. Employees want opportunities for professional development. Rounding is a natural avenue for discovering whose skill sets need improvement and for initiating professional development discussions. Daily rounds present the ideal scenario for suggesting training to someone who clearly needs it, or to ask one employee to mentor another. Rounding also gives us many opportunities to help high performers move to an even higher level. A leader wishing to instigate such a conversation might say something like, “We want to keep you in our organization and are committed to helping you excel professionally. Is there any training that you feel might be helpful to you?”

4. Employees want to be recognized and rewarded for doing a good job. A big part of the rounding process involves asking people who among their peers is demonstrating exceptional performance—and then passing the compliments on. It’s an excellent way to build morale, as praise from one’s peers is probably the most meaningful kind.

5. Employees don’t want to work with low performers. Nothing makes employees as discouraged and resentful as having to coexist with people who don’t pull their own weight. In fact, low performers usually drive high performers right out the door. Rounding naturally solves this problem. Of course, once we find out who the low performers are, we have to move them up or out—as we discussed in the first chapter. It’s not easy, but it’s absolutely necessary.

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Landscaping project that improve your home appearance.

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Does your garden and landscape looks dull and unattractive? Do you want to have eye catching landscape design that wow your neighbours? Designing your own landscape sometimes can be tricky. It would be better if you have the assistance of professional, reliable Landscapers who can listen and understand your objectives, requirements and wishlist to create stunning and creative landscape design. If you live in Boston Massachusetts areas, you can rely on SLDA boston landscaping. They are professional Massachusetts Landscapers who handle any Landscape Redesign, Remodelling, or New Installation projects that make your home more beautiful. Their unique structured approach in handling your landscape project, from Planning, Design to Implementation, will ensure successful completion of your landscaping project within time, budget and quality. What I like about SLDA is their attention to details. They have comprehensive checklists that meticulously consider all important functionality & beauty aspect of your landscaping design. By carefully listening and understanding your lifestyle requirements and design objectives, their creative designers are able produce quality and breathtaking solutions that improve the look of your home. I believe that landscaping is a good investment that beautifies your home, as it increases your home value and also encourages others to follow your good example.

The above is a sponsored.

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Tuesday, July 14, 2009

Principles of Operational Risk Management. Risk Management Frameworks for mitigating Operational Risk.

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Principles of Operational Risk Management

Of course, no one wants bad things to happen to their company, their employees, or their clients. Every bad story is something one wants to avoid. Yet, total avoidance or 100% extinguishing of operational risk is a foolish goal. It would be very expensive, if not impossible. For example, one could totally avoid market risk by totally avoiding the market. The result of this strategy would mean no investments in securities, property, or any product that has a “market.” Likewise, one could avoid credit risk by not being in the business of extending credit. The same is true for operational risk. A company could totally avoid operational risk by not having employees, not having processes, and not having clients. That would mean not being in business—a foolish goal for a company.

The management of risk is smarter and more effective. Both COSO and the Basel Committee have issued similar principles with respect to the management of operational risk. While COSO has expanded these principles into objectives and components within its ERM framework, the Basel Committee refers to these concepts as “sound practices.” In any event, these ORM principles from these and other public risk management frameworks fall into four broad categories in the following order:
1. Setting the environment
2. Active management (identify, assess, mitigate)
3. Ongoing monitoring
4. Disclosure

1) A company’s risk control environment sets the tone for the organization. It is the foundation for all other risk management activities. If a company’s board of directors does not worry about the management of risk, then rest assured that the management and employees will not worry about it either. The board of directors and senior management are responsible for setting the appropriate tone for the rest of the company, including integrity, ethical values, and competence, and for approving an ORM framework to be consistently implemented throughout the organization so that all levels of employees know and understand their responsibilities with respect to managing operational risk.

2) Active operational risk management ensures that an organization has in place the means to carry out a comprehensive program to (1) identify risks existing in its processes, systems, and other activities; (2) assess or evaluate the risks identified so that the impact on the organization is fully understood; and (3) mitigate or control the risks, especially those with significant impact, so that the risks are eliminated or reduced to an acceptable level. Vital elements of an ORM program are policies and procedures that address numerous and common control activities, such as authorization, verification, performance review, and segregation of duties.

3) Ongoing monitoring of operational risk is just as important as the monitoring of performance or the monitoring of quality. It should be conducted as a separate activity and should be part of everyday management and supervision. The company’s ORM framework needs to be monitored to ensure that active management is properly working to identify, assess, and reduce risk. Additionally, a company’s risk appetite will change over time and, as a result, the environment and framework would need to be adjusted accordingly.

4) Finally, the disclosure of operational risk information would enable people to carry out their responsibilities. The reporting to senior management of risks identified, assessed, and mitigated would help management determine the potential benefits and costs of changing risk appetites or funding additional control systems or processes. Conversely, the effective communication from senior management to all personnel with regard to a company’s operational risk environment would ensure a clear and consistent message that each person’s role and responsibility for managing operational risk should be taken seriously.

To ensure a more robust anticipatory framework, four changes to the commonly used operational risk framework are necessary:
1. Reorder the Elements and Expand the Function of Monitoring. Active monitoring should take place before active management. One should be monitoring business processes, not only the operational risk framework, as a routine function and not as a result of the identification, assessment, and mitigation of operational risks.
2. Add a New Element to Determine Potential Risks with a Feedback Loop to the Risk Environment. To be proactive, one needs to examine what could occur and not just react to what has occurred. Potential risks should be identified and assessed in order to then determine whether the risk environment needs to be changed.
3. Add Four New Features to the Active Management Element. Managing the risks not only comprises identification, assessment, and mitigation as suggested in the commonly used frameworks. Additional measures include a cost assessment; deciding whether to live with a risk; validating that the risk was indeed mitigated, if risk mitigation was the chosen option; and reporting the risk, status, and validation to senior management.
4. Remove Disclosure as a Single Element and Instead Include It in All Elements. The concept of disclosing or reporting of information is key to risk management. This should occur not only once the active management and monitoring are completed, but during the entire process.

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Sunday, July 12, 2009

Framework for managing and reducing Operational Risk. Enterprise risk management (ERM). The revised COSO ERM framework.

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Risk Techniques

Many techniques and methods used for managing and reducing operational risk have been recommended and written about over the past 20 years. Each one has its benefits and can be used for better understanding operational risk and reducing potential losses. Here are some:

Enterprise risk management (ERM) is an expansion of the original COSO framework as a way to explain management of operational risk. It contains four objectives for a company and for an organization within a company:
1. Strategic. The high-level goals and objectives of the organization.
2. Operations. The appropriate use of an organization’s resources, taking both effectiveness and efficiency into account.
3. Reporting. The reliability of the reporting by the organization, whether it would be internal reporting of a division to corporate headquarters or reporting by the company to its shareholders or regulators.
4. Compliance with applicable laws and regulations. This is especially important for global or U.S. national companies, where regional and local laws are different and need to be adhered to in order to stay in business within that regional or local jurisdiction.

The original COSO framework contained four principles: setting the environment; monitoring the process; active risk management through identification, assessment, and mitigation; and disclosure. Rather than using these four principles, the revised COSO ERM framework employed eight components that work together. These eight components link back to the original four COSO principles and conform to the principles of Basel II and the control principles embraced by SOX 404:
1. Internal environment is how the organization sets the tone and risk appetite of an organization, not different from the original principle of setting the environment.
2. Objective setting is to set up objectives in line with the organization’s risk appetite, not different from, and actually a component of, setting the environment.
3. Event identification refers to identifying both internal and external events that affect the organization’s risk objectives, which is a key component of the active risk management principle.
4. Risk assessment, the next component of the active risk management principle, refers to the analysis and understanding of these events and what risk they present to the organization.
5. Risk response, the third and final component of active risk management, is the decision of what to do about the risk, including actions to take to mitigate or compensate for the risk, or determining ways to reduce or even share the cost of the risk, or perhaps accept the risk within the risk appetite of the organization.
6. Control activities are a component of the risk response, to ensure that there are plans in place to implement whatever response was determined.
7. Information and communication is similar to, and perhaps broader than, the original principle of disclosure, in that it takes into account the communication of valuable instructions or information for people inside and external to the organization with regard to their roles and responsibilities for particular risk objectives and risk responses.
8. Monitoring, just like the original principle of monitoring, is the ongoing process of reviewing and evaluating processes and business activities.

Insurance is a form of risk management used to hedge against a potential loss. Thus, rather than trying to develop and implement an ORM framework, a company could instead purchase insurance for losses from operational risks. One would likely find that the cost of determining how much insurance is needed plus the cost of the actual insurance is greater than the cost of developing and implementing an ORM framework. In addition, the use of risk management information systems (RMISs) is typical in insurance-related businesses. Yet, the concepts can be applied to all businesses—that is, the use of computerized systems to help with the reporting of identified risks, risk assessments, and risk control activities.

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2 Emotional Capitalists—The New Leaders—Essential Strategies for Building Your Emotional Intelligence and Leadership Success Martyn Newman 2007 9780470694213
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10 Diversity in Coaching—Working with Gender, Culture, Race and Age Jonathan Passmore (ed) 2009 9780749450793
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12 Psychometrics in Coaching—Using Psychological and Psychometric Tools for Development Jonathan Passmore (ed) 2008 9780749450809
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49 Tips for Virtual Team Management—Using the DiSC Behavioural Profile to Better Manage Distributed Teams, First Edition Claire Sookman and Susan Garms 2009 9781895186307
50 Where in the World is My Team? Making A Success Of Your Virtual Global Workplace Terence Brake 2008 9780470714294
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52 Successful Time Management for Dummies Dirk Zeller 2009 9780470290347
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26 The Execution Premium—Linking Strategy to Operations for Competitive Advantage Robert S. Kaplan and David P. Norton 2008 9781422121160
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13 Leader To Leader—Enduring Insights on Leadership from the Drucker Foundation's Award-Winning Journal Frances Hesselbein and Paul M. Cohen (eds) 1999 9780787947262
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15 52 Weeks of Sales Success—America’s #1 Salesman Shows You How to Send Sales Soaring! Second Edition Ralph R. Roberts and Joe Kraynak 2009 9780470393505
16 151 Quick Ideas to Motivate Your Sales Force Frank R. Horvath and Julie A. Vincent 2009 9781601630490
17 Cross-Cultural Selling for Dummies Michael Soon Lee, Ralph R. Roberts and Joe Kraynak 2009 9780470377017
18 How to Be a Sales Superstar—Break All the Rules and Succeed While Doing It Mark Tewart 2009 9780470300961
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8 Crisis Communication—Practical PR Strategies for Reputation Management and Company Survival Peter F. Anthonissen (ed) 2008 9780749454005
9 Effective Executive Compensation—Creating a Total Rewards Strategy for Executives Michael Dennis, Graham Thomas A. Roth and Dawn Dugan 2008 9780814410127
10 Strategic Staffing—A Comprehensive System for Effective Workforce Planning, Second Edition Thomas P. Bechet 2008 9780814409381
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12 The New Human Capital Strategy—Improving the Value of Your Most Important Investment—Year after Year Bradley W. Hall 2008 9780814409275
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16 Talent—Making People Your Competitive Advantage Edward E. Lawler III 2008 9780787998387
17 The Happy Employee—101 Ways For Managers To Attract, Retain, & Inspire The Best And Brightest Julia McGovern and Susan Shelly 2008 9781598695571
18 401 Proven Ways to Retain Your Best Employees Gregory P. Smith 2007 9780967684352
19 Love 'Em or Lose 'Em—Getting Good People to Stay, Fourth Edition Beverly Kaye and Sharon Jordan-Evans 2008 9781576755570
20 Talent on Demand—Managing Talent in an Age of Uncertainty Peter Cappelli 2008 9781422104477
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24 The Essential Guide to Training Global Audiences—Your Planning Resource of Useful Tips and Techniques LuAnn Irwin and Renie McClay 2008 9780787996611
25 The Trainer's Handbook, Updated Edition Karen Lawson 2009 9780470403044
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No Book Title Authors Publication Year ISBN No
== ====== ===== ========== ==========

1 Fixed Income Analysis, Second Edition Frank J. Fabozzi 2008 9780470052211
2 Strategic Asset Allocation in Fixed-Income Markets—A MATLAB-Based User’s Guide Ken Nyholm 2008 9780470753620
3 Foundations of Energy Risk Management—An Overview of the Energy Sector and Its Physical and Financial Markets Global Association of Risk Professionals (GARP) 2009 9780470421901
4 Risk Management in Commodity Markets—From Shipping to Agriculturals and Energy Helyette Geman 2008 9780470694251
5 Enhanced Indexing Strategies—Utilizing Futures and Options to Achieve Higher Performance Tristan Yates 2009 9780470259252
6 The Structured Credit Handbook Arvind Rajan, Glen McDermott and Ratul Roy 2007 9780471747499
7 DeMark Indicators Jason Perl 2008 9781576603147
8 Equity Valuation, Risk, and Investment—A Practitioner’s Roadmap Peter C. Stimes 2008 9780470226407
9 Floating Your Company—The Essential Guide to Going Public, 3rd Edition Jonathan Reuvid (ed) 2007 9780749450564
10 International and U.S. IPO Planning—A Business Strategy Guide Frederick D. Lipman 2009 9780470390870
11 Modern Portfolio Management—Active Long/Short 130/30 Equity Strategies Martin L. Leibowitz, Simon Emrich and Anthony Bova 2009 9780470398531
12 Stock Investing For Dummies, 3rd Edition Paul Mladjenovic 2009 9780470401149
13 A Beginner's Guide to Charting Financial Markets—A Practical Introduction to Technical Analysis for Investors Michael Kahn 2007 9781905641215
14 Beating the Financial Futures Market—Combining Small Biases into Powerful Money Making Strategies Art Collins 2006 9780470038659
15 Getting Started in Swing Trading Michael C. Thomsett 2007 9780470084618
16 Give Your Trading the Edge—A Guide to Success on the Financial Markets Chelsea Reid 2007 9780731405602
17 Morningstar Guide to Mutual Funds—Five-Star Strategies for Success, Second Edition Christine Benz 2007 9780470137536
18 Shares Made Simple Rodney Hobson 2007 9781905641451
19 The Financial Spread Betting Handbook—A Guide to Making Money Trading Spread Bets Malcolm Pryor 2007 9781897597934
20 Trading the US Markets—A Comprehensive Guide to US Markets for International Traders and Investors Paolo Pezzutti 2008 9781905641055
21 Anatomy of the Bear—Lessons from Wall Street's Four Great Bottoms, Updated 2nd Edition Russell Napier 2007 9781905641574
22 Chaotic Markets - Thriving in a World of Unpredictability A. Coskun Samli 2007 9780275993719
23 European Financial Markets and Institutions Jakob de Haan, Sander Oosterloo and Dirk Schoenmaker 2009 9780521882996
24 The Battle for Wall Street—Behind the Lines in the Struggle that Pushed an Industry into Turmoil Richard Goldberg 2009 9780470222799
25 Financial Institutions, Markets, and Money, Tenth Edition David S. Kidwell, David W. Blackwell, David A. Whidbee and Richard L. Peterson 2008 9780470171615
26 7 Winning Strategies for Trading Forex—Real and Actionable Techniques for Profiting from the Currency Markets Grace Cheng 2007 9781905641192
27 Beat the Odds in Forex Trading—How to Identify and Profit from High Percentage Market Patterns Igor Toshchakov 2006 9780471933311
28 Currency Trading and Intermarket Analysis—How to Profit from the Shifting Currents in Global Markets Ashraf LaĆÆdi 2009 9780470226230
29 Selective Forex Trading—How to Achieve Over 100 Trades in a Row Without a Loss Don Snellgrove 2008 9780470120835
30 Dear Mr. Buffett—What An Investor Learns 1,269 Miles From Wall Street Janet M. Tavakoli 2009 9780470406786
31 Investing In A Sustainable World—Why Green Is The New Color Of Money On Wall Street Matthew J. Kiernan 2009 9780814410929
32 Socially Responsible Investing For Dummies Ann C. Logue 2009 9780470394717
33 The Guru Investor—How to Beat the Market Using History's Best Investment Strategies John P. Reese and Jack M. Forehand 2009 9780470377093
34 Billion Dollar Green—Profit from the Eco Revolution Tobin Smith and Jim Woods 2009 9780470343777
35 Bullish Thinking—The Advisor’s Guide to Surviving and Thriving on Wall Street Alden Cass, Brian F. Shaw and Sydney LeBlanc 2008 9780470137703
36 Business Models—Investing In Companies and Sectors with Strong Competitive Advantage David Watson 2004 9781897597583
37 Discover the Upside of Down—Investment Strategies for Volatile Times Ronald J. Colby 2009 9780470419724
38 Getting Started in Value Investing Charles S. Mizrahi 2008 9780470139080
39 Handbook of Alternative Assets, Second Edition Mark J.P. Anson 2006 9780471980209
40 Invest Like a Dealmaker—Secrets from a Former Banking Insider Christopher W. Mayer 2008 9780470180914
41 Investing 101—Updated and Expanded Edition Kathy Kristof 2008 9781576603079
42 The Green Business Guide—A One Stop Resource for Businesses of All Shapes and Sizes to Implement Eco-Friendly Policies, Programs, and Practices Glenn Bachman 2009 9781601630483
43 The Harriman House Book of Investing Rules Philip Jenks and Stephen Eckett (eds) 2006 9781905641222
44 Warren Buffett SPEAKS —Wit and Wisdom from the World’s Greatest Investor, Completely Revised and Updated Janet Lowe 2007 9780470152621
45 Hedge Fund Operational Due Diligence—Understanding the Risks Jason A. Scharfman 2009 9780470372340
46 Inside The House Of Money—Top Hedge Fund Traders on Profiting in the Global Markets, Revised and Updated Steven Drobny 2009 9780470379097


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No Book Title Authors Publication Year ISBN No
== ====== ===== ========== ==========


1 Private Wealth—Wealth Management in Practice Stephen M. Horan 2009 9780470381137
2 Implementing Beyond Budgeting—Unlocking the Performance Potential Bjarte Bogsnes 2009 9780470405161
3 Budgeting Basics and Beyond, Third Edition Jae K. Shim and Joel G. Siegel 2009 9780470389683
4 Convergence Guidebook for Corporate Financial Reporting Bruce Pounder 2009 9780470285879
5 International Financial Statement Analysis Workbook Thomas R. Robinson, Hennie van Greuning, Elaine Henry and Michael A Broihahn 2009 9780470287675
6 Reading Financial Reports For Dummies, 2nd Edition Lita Epstein 2009 9780470376287
7 Business Ratios and Formulas—A Comprehensive Guide, Second Edition Steven M. Bragg 2007 9780470055175
8 International Financial Statement Analysis Thomas R. Robinson, Hennie van Greuning, Elaine Henry and Michael A Broihahn 2009 9780470287668
9 Strategic Cost Reduction—Leading Your Hospital to Success Michael E. Rindler 2007 9781567932676
10 The Effective Measurement and Management of ICT Costs and Benefits, Third Edition Dan Remenyi, Arthur Money and Frank Bannister 2007 9780750683289
11 2008 Field Guide to Financial Planning Donald F. Cady 2008 9780872189447
12 Finance for Non-Financial Managers and Small Business Owners, 2nd Edition Lawrence W. Tuller 2008 9781598691641
13 Financial Darwinism—Create Value or Self-Destruct in a World of Risk Leo M. Tilman 2009 9780470385463
14 Harriman's Money Miscellany—A Collection of Financial Facts and Corporate Curiosities Stephen Eckett 2008 9781905641956
15 Deena Katz's Complete Guide to Practice Management—Tips, Tools, and Templates for the Financial Adviser Deena B. Katz 2009 9781576603086
16 Money Mark F. Dobeck and Euel Elliott 2007 9780313338526
17 Numbers Guide—The Essentials of Business Numeracy, Fifth Edition The Economist 2003 9781861975157
18 The Complete CFO Handbook—From Accounting to Accountability Frank J. Fabozzi, Pamela Peterson Drake and Ralph S. Polimeni 2008 9780470099261
19 The Vest Pocket CFO, 3rd Edition Jae K. Shim and Joel G. Siegel 2008 9780470168127
20 The Vest Pocket CPA, Fourth Edition Joel G. Siegel, Nick Dauber and Jae K. Shim 2008 9780470168134
21 Venture Capital Funding—A Practical Guide To Raising Finance, 2nd edition Stephen Bloomfield 2008 9780749452308
22 A Fast Track to Structured Finance Modeling, Monitoring, and Valuation—Jump Start VBA William Preinitz 2009 9780470398128
23 Cash Return on Capital Invested—Ten Years of Investment Analysis with the CROCI Economic Profit Model Pascal Costantini 2006 9780750668545
24 Future Savvy—Identifying Trends to Make Better Decisions, Manage Uncertainty, and Profit from Change Adam Gordon 2008 9780814409121
25 Modeling Structured Finance Cash Flows with Microsoft Excel—A Step-by-Step Guide Keith A. Allman 2007 9780470042908
26 Pro Excel Financial Modeling—Building Models for Technology Startups Tom Y. Sawyer 2009 9781430218982
27 Reverse Engineering Deals on Wall Street with Microsoft Excel—A Step-by-Step Guide Keith A. Allman 2009 9780470242056
28 The Handbook of Portfolio Mathematics—Formulas for Optimal Allocation & Leverage Ralph Vince 2007 9780471757689
29 Earnings Magic and the Unbalance Sheet—The Search for Financial Reality Gary Giroux 2006 9780471768555
30 Expert Fraud Investigation—A Step-by-Step Guide Tracy L. Coenen 2009 9780470387962
31 Principles of Fraud Examination, Second Edition Joseph T. Wells 2008 9780470128831
32 Frontiers in Quantitative Finance—Volatility and Credit Risk Modeling Rama Cont 2009 9780470292921
33 Market Risk Analysis—Quantitative Methods in Finance, Volume I Carol Alexander 2008 9780470998007
34 Market Risk Analysis—Practical Financial Econometrics, Volume II Carol Alexander 2008 9780470998014
35 Market Risk Management for Hedge Funds—Foundations of the Style and Implicit Value-at-Risk FranƧois Duc and Yann Schorderet 2008 9780470722992
36 Operational Risk Toward Basel III—Best Practices and Issues in Modeling, Management, and Regulation Greg N. Gregoriou 2009 9780470390146
37 Risk Arbitrage Guy Wyser-Pratte 2009 9780470415719
38 Risk Management for Central Banks and Other Public Investors Ulrich Bindseil, Fernando Gonzalez and Evangelos Tabakis (eds) 2009 9780521518567
39 The New Financial Order—Risk in the 21st Century Robert J. Shiller 2003 9780691120119
40 PricewaterhouseCoopers 2008 Guide to Tax and Financial Planning—Including Analysis of the 2007 Tax Law Changes PricewaterhouseCoopers LLP 2007 9780470139707


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No Book Title Authors Publication Year ISBN No
== ====== ===== ========== ==========


1 IFRS Primer—International GAAP Basics Irene M. Wiecek and Nicola M. Young 2009 9780470158883
2 QuickBooks 2009 All-in-One for Dummies Stephen L. Nelson 2009 9780470396520
3 QuickBooks 2009 for Dummies Stephen L. Nelson 2009 9780470391815
4 Wiley GAAP 2009—Interpretation and Application of Generally Accepted Accounting Principles Barry J. Epstein, Ralph Nach and Steven M. Bragg 2008 9780470286067
5 Wiley GAAP for Governments 2009—Interpretation and Application of Generally Accepted Accounting Principles for tate and Local Governments Warren Ruppel 2009 9780470286142
6 Wiley IFRS 2009—Interpretation and Application of International Financial Reporting Standards 2009 Barry J. Epstein and Eva K. Jermakowicz 2009 9780470286098


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Economics Books. Economics EBooks. Economics Book. Economics EBook.Cheap Economics Books. Discount Economics Books. Bargain Economic Books.

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No Book Title Authors Publication Year ISBN No
== ====== ===== ========== ==========

1 Contagion—The Financial Epidemic That is Sweeping the Global Economy…and How to Protect Yourself From it John R. Talbott 2009 9780470442210
2 glob•ali•za´•tion—The Irrational Fear That Someone in China Will Take Your Job Bruce C. Greenwald and Judd Kahn 2009 9780470169636
3 Greenspan’s Bubbles—The Age of Ignorance at the Federal Reserve William A. Fleckenstein and Frederick Sheehan 2008 9780071591584
4 Inside the Fed—Monetary Policy and Its Management, Martin through Greenspan to Bernanke Stephen H. Axilrod 2009 9780262012492
5 Markets, Money and Capital—Hicksian Economics for the Twenty-first Century Roberto Scazzieri, Amartya Sen and Stefano Zamagni (eds) 2008 9780521873215
6 The Economics of Retailing and Distribution Roger R. Betancourt 2004 9781845427641
7 Businomics—From the Headlines to Your Bottom Line—How to Profit in Any Economic Cycle William B. Conerly 2007 9781598691191
8 Pocket World in Figures 2009 Edition The Economist 2008 9781846681233
9 Stabilizing an Unstable Economy Hyman Minsky 2008 9780071592994
10 The Great Depression of Debt—Survival Techniques for Every Investor Warren Brussee 2009 9780470423714


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No Book Title Authors Publication Year ISBN No
== ====== ===== ========== ==========

1 Compliance Audits—Essential Checklists for OSHA, EPA & Other Key Agencies J.J. Keller & Associates, Inc. 2008 9781877798184
2 Employee Safety Workbook J.J. Keller & Associates, Inc. 2008 9781602873308
3 J. J. Keller’s 5-Minute Workplace Safety Talks J.J. Keller & Associates, Inc. 2008 9781579439583
4 J. J. Keller’s Official OSHA Safety Training Handbook—Instructor’s Guide, 6th Edition J.J. Keller & Associates, Inc. 2008 9781602871588
5 Safety Puzzles for OSHA's Top 10 Violations Isabel Perry 2008 9781599961590
6 J. J. Keller’s Official OSHA Safety Training Handbook, Sixth Edition J.J. Keller & Associates, Inc. 2008 9781602871564
7 Collaborate for Success! Breakthrough Strategies for Engaging Physicians, Nurses, and Hospital Executives Kenneth H. Cohn 2007 9781567932621
8 Reinventing The Patient Experience—Strategies for Hospital Leaders Jon B. Christianson et al. 2007 9781567932782
9 The Law of Healthcare Administration, Fifth Edition J. Stuart Showalter 2008 9781567939576
10 The Politics Of Health Legislation—An Economic Perspective, Third Edition Paul J. Feldstein 2006 9781567932539
11 America's Health Care Crisis Solved—Money-Saving Solutions, Coverage for Everyone J. Patrick Rooney and Dan Perrin 2008 9780470275726
12 The Primary Care–Market Share Connection—How Hospitals Achieve Competitive Advantage Marc D. Halley 2007 9781567932751


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